Posted by JeffB (MI) on April 27, 2006 at 07:27:11:
In Michigan, no changes can be made on the title at the DMV without written consent from the lienholder. Not sure if this applies in other states as well.
Also, if your sales tax figure is $5k I am frightened to hear what you are paying for this mobile home. This is a different animal than stick-built investing, values are all over the place but generally speaking there is a huge spread between the retail and wholesale markets, and financing is very hard to come by. Most owners in newer homes are way upside-down. For this reason, Sub2 investing is rarely a consideration due to the unfavorable risk/reward.
Now if this is a mobile home on land that changes everything but I suspect it is not based on the details you’ve presented.